The Australian Dollar Canadian Dollar.
Good afternoon Dynamic Traders,
Todays chart of the AUDCAD, has been trending upwards quite nicely until the beginning of July when it did start to fall.
This pullback may be a little deep, but non the less did come to a fibonacci reversal with a doji candle formation and was in proximity to a '00' figure, although the V.I. did not get tagged.
Today price is breaching the trendline as I write this but be aware of the '000' above which could cause resistance if the upward path should continue which could lead to a re-test of the high.
Currently there is short term convergence with MACD amounst other confluences but to take any trades please ensure to do your own analysis and gather more odds in your favour whilst also using your filter for entry should todays bar finish appropriately.
Due to problems with my vehicle, I am afraid there will be no update tomorrow, as I have to get it to the garage for repair.
Charts courtesy of AdvancedGet.
Have fun trading, and good luck.